According to Wu Blockchain, Bitmine Immersion Technologies has announced the issuance of 3 million shares of Series A perpetual preferred stock with an annual interest rate of 9.50%. Each share has a par value and initial liquidation preference of $100. Dividends will accumulate at an annual rate of 9.50% and are planned to be paid weekly in cash for declared dividends. Bitmine stated that the net proceeds from this issuance are intended for general corporate purposes, which may include increasing holdings of ETH and other digital assets, expanding staking and validator node infrastructure (including MAVAN), supplementing working capital, pursuing strategic investments related to the Ethereum ecosystem and digital asset adoption, and repurchasing common stock. https://(wublock123.com)/news/bitmine-to-issue-3m-9-5pc-perpetual-preferred-shares-funds-may-buy-eth-62175